4 Things to Know Before You Try to Negotiate Your Salary
If you’ve been working at your job for a while, and things are going well, now is a great time to consider negotiating your salary. A year or more of working with one company means that you’ve been there long enough to make an impact, and you probably have a vision for what you want the future of your job to look like. If a higher salary is what you seek, and you haven’t done your homework yet, consider each of these things before you confront your boss about upping your pay.
Know How Much You Should Be Paid
Don’t go into a salary negotiation and expect that your boss will happily give you a $20,000 increase per year. It doesn’t work like that, and unless you work at huge tech conglomerates like Amazon, it never will.
The truth hurts, but data can set you free. Before you even think about asking,get a free salary report so you can take the guesswork out of your salary. Whatever the salary report says you should be paid, that is the number you need to bring to your manager.
Know the Milestones, KPIs, and Goals You’ve Reached
It only makes sense to ask for a raise if you’ve been doing good work. In a salary negotiation situation, you need to have everything you’ve accomplished in mind. Laying out the unique milestones and key performance indicators you’ve reached shows your boss how much progress you’ve made in a short amount of time.
Know How You Want Your Job to Change Post-Negotiation
Negotiation goes both ways. Not only do you have to show what you’ve accomplished already, but you have to show how your job role will change after the salary increase. Will you be adding more responsibilities? Will you be stepping up to full ownership on specific projects? It helps both you and your boss if you are clear on exactly what you want, so you can work together to adjust accordingly.
Know How You Want to Be Measured Moving Forward
If you’re asking for an increase in salary, it’s likely because you were able to meet or crush the goals that you and your boss already set. But if you’re asking for more money, you should expect that your goals will become more aggressive. Knowing exactly how you want to be measured moving forward can help you establish scalable goals that you know you can meet, and eventually exceed.